Wednesday, June 3, 2009

V4 Wages Suffering from Currencies' Depreciation

Currency depreciations pulled down the Euro purchasing power of V4 wages in the first quarter of this year, with the exception of Slovakia, which had a fixed exchange rate to Euro de facto from May 28, 2008. For the first time, thus, average gross salary in Slovakia is not the lowest in Central Europe. Note: the 1q09 value for the Czech Republic is an estimate.